It was established in 1855 by Robert E. Bonner, by transforming the weekly financial journal called The Merchant's Ledger that he had purchased in 1851.

[2][3] Notable contributors included Ethel Lynn Beers, Sylvanus Cobb, Jr. (The Gunmaker of Moscow), Fanny Fern (whose first column appeared in 1855), William H. Peck, and E. D. E. N. Southworth (The Hidden Hand, among many others).

[4] The Ledger also regularly published some of the most popular mid-century women poets including Sarah M. B. Piatt, Lydia Sigourney, and the Cary sisters, Alice and Phoebe.

Printed modern issues of the paper showed up in Law & Order: SVU's 2nd and 16th season episodes "Baby Killer" and "Surrendering Noah".

The newspaper is briefly shown during an opening montage of alternative history in the Apple TV+ show For All Mankind in season two, episode 1.